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An annuity is a contract where a person required to pay a lump sum to an insurance company, and in return, they provide periodic payments over a specified time frame, which can be used for retirement income.
Sandeep Kumar Gupta, the chairman of GAIL, suggests that the government should promote the use of natural gas and reduce emissions in various industries. He also proposes bringing natural gas under the GST regime and extending production-linked incentives to LNG-powered vehicles.
Deciding which tax regime to choose it completely depends upon individual financial circumstances.
Form 10-IEA has been notified through Notification No. 43/2023 dated 21st June 2023 which enables taxpayers to make choice between the old and new tax regimes.
Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.
As new financial year came, starting with the 1st April Employees' Provident Fund Organisation (EPFO) has introduced a system that gives a hassle free PF Transfer for Job Movers.
As the 31st March approaches, businesses must reconcile sales and purchase records, verify input tax credits, adjust for any discrepancies, prepare for audits or assessments, and fulfill any outstanding compliance obligations.
As the start of new financial year approaches, new financial regulations will be implemented, affecting how financial transactions and operations are conducted.
Get the latest TDS rate chart for FY 2024-25 (AY 2025-26)
The responsibility to collect Tax Collected at Source lies with certain specified persons or entities as mandated by the Income Tax Act. These entities collect tax from the payee at the time of sale or provision of certain goods or services.
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